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26 October 2026

Fed, RBNZ, ECB, BoC, BoJ policy meetings

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  • TRADE NOW TRADE NOW

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    *Only applicable to new Standard Chartered banking customers who do not hold any current or savings account with us. For existing customers, please login to Online Banking or visit the branch for account opening.

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    SC Mobile app download - QR Code

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    Cheque book service, products/services/applications that require handwritten signature are not applicable to account opened via SC Mobile App.

26 October 2026

Fed, RBNZ, ECB, BoC, BoJ policy meetings

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19 October 2026

AUD rebounded from a 15-week low

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  • TRADE NOW TRADE NOW

    Trade now via SC Mobile App

    For new and existing clients

    Pattern, QR Code, Stencil

    Trade now via SC Mobile App

    For new and existing clients

    Not having an Integrated Deposit Account?
    Apply Now

    How do you want to apply for Integrated Deposits Account?

    *Only applicable to new Standard Chartered banking customers who do not hold any current or savings account with us. For existing customers, please login to Online Banking or visit the branch for account opening.

    Download SC Mobile, save a trip to the branch

    SC Mobile app download - QR Code

    App Store is a service mark of Apple Inc. Google play is a trademark of Google Inc.

    Click here to learn more about Mobile Account Opening.

    Not applicable to:

    Cheque book service, products/services/applications that require handwritten signature are not applicable to account opened via SC Mobile App.

19 October 2026

AUD rebounded from a 15-week low

Latest FX News

Hk fx jpy pn

FX Weekly – 2 October 2026

JPY Down Over 3%, Buy the Dip!

BoJ meeting minutes and the Tankan survey offered little sign of faster policy tightening, reducing the likelihood of an Oct rate hike to below 20%. We expect the BoJ to raise rates by 25bps per quarter through Q4 and into 1H next year. With USD/JPY approaching 160, the risk of official intervention is also increasing. Take advantage of the recent pullback to accumulate JPY. JPY/HKD (per 100 yen) could rebound above 5.1 over the next 12 months, offering attractive upside from current levels.

Hk fx aud pn

FX Weekly – 29 September 2026

The 4th RBA Rate Hike: AUD/HKD Could Reach 5.7 in 3 Months!

The RBA raised rates by a further 25bps to 4.60%, the highest level in nearly 15 years and among the highest across major central banks. Policymakers reaffirmed their commitment to bringing inflation sustainably back to target and signalled that further rate hikes remain possible if needed. After a 3%+ pullback, higher rates could support the AUD, with AUD/HKD potentially reaching 5.70 in three months (AUD/USD: 0.73). Use the pullback to position for potential upside!

FX at a glance

Key FX Highlights

  • Further Fed tightening supports the USD near term. We expect the USD to remain supported, with our 3-month DXY forecast at 100.2.
  • Resilient US payrolls for August alongside sticky energy and IT price-driven inflation reinforce the Fed’s focus on containing inflation. Following its 25bp hike, we expect another hike by end-2026 and potentially another one in early H1 2027.
  • However, money markets already price a more aggressive Fed hiking path than our expectations, limiting the scope for further USD gains and leaving the USD vulnerable if incoming data weaken the case for additional hikes. We forecast that the Fed funds rate may peak in H1 2027 in the current mini-rate hike cycle and then gradually decline thereafter as inflation moves closer towards target.
  • Fading inflation and narrowing rate advantage point to a softer USD in the medium term. We expect the USD index (DXY) to decline gradually towards 98 over 12 months. Inflation pressures are expected to moderate as the impact of oil prices and tariffs fade, reducing the need for continued Fed tightening.

For more details, you may download our latest Global Market Outlook.

 

As of 15 October 2026

FX Deep Dive

Currency: USD, GBP, JPY, AUD, EUR, NZD, CAD, CHF. CNY

USD

3m forecast: 100.2

12m forecast: 98

The bullish case:

+ Middle East conflict pushes up oil prices

+ Safe-haven demand

The bearish case:

– Weak US labour market

– Rising policy uncertainty

GBP

3m forecast: 1.33 (GBP/USD)

12m forecast: 1.35 (GBP/USD)

The bullish case:

+ BoE’s expected rate hike

The bearish case:

– Energy price spike has put UK cost of living pressure
– Concerns around growth and consumption

JPY

3m forecast: 157 (USD/JPY)

12m forecast: 153 (USD/JPY)

The bullish case:

+ BoJ’s expected rate hike

+ FX intervention

The bearish case:

– Delay in BoJ restrictive monetary policy
– Wide rate differentials

AUD

3m forecast: 0.73 (AUD/USD)

12m forecast: 0.74 (AUD/USD)

The bullish case:
+ The highest rate among major central banks
+ Further rate hikes expectation

The bearish case:

– China’s modest recovery

EUR

3m forecast: 1.15 (EUR/USD)

12m forecast: 1.18 (EUR/USD)

The bullish case:

+ Further rate hike
+ The inflationary effect of the Middle East conflict

The bearish case:

– France’s fiscal concern and Spain’s political risks

NZD

3m forecast: 0.56 (NZD/USD)

12m forecast: 0.57 (NZD/USD)

The bullish case:

+ Resilient business and consumer confidence
+ Persistent inflation and potential rate hike

The bearish case:

– China’s modest recovery

– Strong USD

CAD

3m forecast: 1.39 (USD/CAD)

12m forecast: 1.37 (USD/CAD)

The bullish case:

+ High oil prices to support the CAD

The bearish case:

– Labour market weakness continues

CHF

3m forecast: 0.82 (USD/CHF)

12m forecast: 0.79 (USD/CHF)

The bullish case:

+ Safe-haven demand
+Sale of FX reserves

+ Intervention risk

The bearish case:

– SNB keeps rates low

CNY

3m forecast: 6.70 (USD/CNY)

12m forecast: 6.67 (USD/CNY)

The bullish case:

+ China fiscal stimulus

+ Strong trade data
+The PBoC set strong daily reference rate

The bearish case:

– Geopolitics

– Unfavorable rate differentials

– Modest economic recovery

Disclaimers

Important Note of Investment Products

Premium deposit, Equity Linked Investments and structured notes are structured products involving derivatives. Investment Fund is an investment product and some Investment Funds would involve derivatives. The investment decision is yours but you should not invest in that investment product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.

Risk Disclosure Statement

  • Investment involves risks. The prices of investment products fluctuate, sometimes dramatically and the worst case may result in loss of your entire investment amount. Past performance is no guide to its future performance.
  • Investors should read the terms and conditions contained in the relevant offering documents and in particular the investment policies and the risk factors and latest financial results information carefully and are advised to seek independent professional advice before making any investment decision.
  • Investors should consider their own investment objectives, investment experience, financial situation and risk tolerance level.

Foreign Exchange:

  • Foreign exchange involves risks. Fluctuation in the exchange rate of a foreign currency may result in gains or significant losses in the event that the customer converts deposit from the foreign currency to another currency (including Hong Kong Dollar).

RMB Deposit Service:

  • Renminbi (“”RMB””) exchange rate, like any other currency, is affected by a wide range of factors and is subject to fluctuations. Such fluctuations may result in gains and losses in the event that the customer subsequently converts RMB to another currency (including Hong Kong dollars); and
  • RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to restrictions specified by the Bank and regulatory requirements applicable from time to time. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.

Disclaimer and Important Notes of Insurance

  • This webpage is intended to be valid in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and Standard Chartered do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This webpage does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction.
  • The material and information contained on this webpage should be read in conjunction with the relevant product brochure and for the risk disclosure, please refer to the product brochure.

Notes

  • This webpage does not constitute any prediction of likely future price movements.
  • Investors should not make investment decisions based on this webpage alone.
  • This webpage has not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.

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